Crypto strategists believe that Bitcoin can continue to rise in this current market cycle.
Jack, a pseudonymous analyst on social media, tells 268,200 of his followers that he does not think Bitcoin will reach a new high in this year. This is because US President Donald Trump has started a trade war with other countries and created an uncertain environment for the market.
A trader shared a chart that suggested Bitcoin would create a bottom lasting between $66,000 to $80,000 before starting a bull run for the remainder of this year.
“Trump’s path is clearly contraction at the moment.
In a world with less trust and globalization, Bitcoin can be a valuable asset. It is like a ball that you hold under water.
“As in 2013, 2013 was a bear market.”
The trader appears to be predicting that Bitcoin could reach as much as $297,00 by 2026.
Jack believes that the possibility of capital shifting from BTC to gold could be a catalyst for Bitcoin’s rise. The trader believes that gold investors are going to realize in the future that Bitcoin offers a better safe haven than precious metals.
Bitcoin does not have this problem and it will rise once people understand that this property makes Bitcoin the best alternative to trade.”
Paper gold is a financial instrument that allows investors to access the precious metals without the hassle of owning them physically. Jack seems to be emphasizing Bitcoin’s portable nature, as BTC owners can store their coins and easily access them as long as the wallet keys are available.
Bitcoin currently trades for $84,244.
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The post Crypto Trader Reveals Massive Bitcoin Target Price Amid Extended BTC Bull Market – Here’s His Outlook could be updated as new information becomes available.
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